What would you do if you won the Lottery?

[Tearknee]

I think just about everyone has asked or been asked this question before? What would you do if you won the lottery and it was for $100 Million dollars?

I myself first would get a person I could really trust that had a career in investment banking and discuss with them what to do. I would them have charities where part of the money would go to and then next my family would get part of the money as well. After that is when I would use the brains of the investment banker to see where and how much I should invest. I honestly think I would still want to work especially if I won the lottery at the young age I am at now. I really want to help people so I think I would go stir crazy if I didn’t have that. Now if I was close to retirement age that would be a different story. With some of the money of course I think I would book a cruise that would travel around to many ports throughout the Scandinavian area.

[bunnyhabit1984]

i would have my investment advisor use about 75% to increase my wealth and put the rest my savings account.

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Tearknee

[Mamie]

I can’t play the lottery, my mother has a gambling addiction and her problem had a really negative affect on my family.  She’d spend hundreds of dollars every week, and all she’d talk about was what she’d do when she won.  I was so miserable from it, because she of course didn’t win and she would get very depressed because her dreams weren’t coming true.  So I’m a pretty strict saver, and I just can’t bring myself to ever really think about it, but I don’t blame people who play casually for fun.

I did have a colleague as a teller, she was really into lottery.  I saw her one time after work on payday at a gas station, she was on a payphone talking to her husband crying, because she withdrew all her money to buy tickets and didn’t win anything, so her whole paycheck was gone, I felt just so terribly bad for her.  I do feel lotteries can be a very dangerous trap for people, I’ve seen so much pain from them.

Oh dear I’m so very sorry for being a wet blanket!

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KitKatKitty, Tearknee

[TestDummyCO]

I rarely play the lottery unless it’s with the office as a group.  I don’t want to be left out when everyone else collects their winnings.  LOL

If it were just me, I would put the unsigned ticket in a safe deposit box ASAP and tell nobody.  Since I have six months to claim it, I would visit a lawyer to discuss my claim options, maybe also teamed with a wealth manager and accountant.  Then, I would act accordingly, either by creating a trust to claim the prize, or creating one for the rest of my assets.  I would probably change my phone numbers as well.  If I couldn’t remain anonymous or claim through a trust, I would then tell my parents and suggest they create a trust for their assets change their phone numbers as well…at my expense, of course.

Once all the ducks are in a row, then, and only then would I retrieve the ticket and sign it appropriately to claim my prize.

I wouldn’t quit my job or touch the winnings for at least a year.

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Mamie

[KitKatKitty]

I’d move to the Cotwolds. I can’t think of what else I’d do. I suppose I would buy people special things and just save most of the money. I would definitely buy a beautiful cottage for myself, though, and an expensive car for my sister. I would let her choose which car. I would also give my sister a few 100 thousand pounds.

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Tearknee

[Swansoda]

I’d pay off credit cards and loans first. Then I’d get a newer car. Do some home upgrades….. hold onto the rest and take it from there.

[SpinningJen]

I am afraid I am a bit too nerdy here as I look at the odds and resultingly seldom bet money on anything. I never bet more than I can afford to lose which is very little (I wonder if this is why my son ended up being an accountant lol).

[Ronnie]

I wouldn’t change much of anything at all except for an early retirement. I would stay in my lovely little home near the mountains and invest the money wisely and travel more.

[KitKatKitty]

I am interested in reading everyone’s response to that question. I do believe many people on here are happy with what they already have to a certain degree.

Talking from my perspective, I have traveled a lot already. I’ve been to Ireland, Sweden, Spain, Greece, Lanazote and Wales. Plus, around Britain and the Midlands. I would still like to go to more places, but I don’t need to win the lottery to do so. I also have a wonderful apartment, I have two jobs, I have my friends & family. It is all going on.

However, things do change. People change jobs and move and nothing stays the same forever. We all need to move with the tide, in that sense. But we can still enjoy what time we do have: whether we win the lottery or not.

[mikki]

Well I would have a boob and  nose job and get my wardrobe organised properly ( more clothes obviously ) and set up account to donate money to animal charities. It would be good to live on the interest  without touching the capital. Finally how much money do we really need anyway?

[KitKatKitty]

This sounds odd, but if I won the lottery I’d date Bono! Although he’d probably not notice me! LOL.

[greensun]

First things first, change our phone numbers.

Pay off debts and establish large credits on continuing services like phone and internet
Establish modest trust funds for my nephews
Cash gifts to certain family members
A small chunk for me to decorate and hubby to complete an entertainment setup
Donations to select charities

If the win was $100 million, we would easily have $80 million+ after we finish up that list, so the rest would go into investments and savings. I don’t know if I would quit my job, but the very least I would take extended leave to focus on getting my mind and body into a better place than it currently is. I can’t imagine quitting all together, though.

[WonderBread]

Run the heck out of overtaxed NY!

[KitKatKitty]

I do actually play the Postcode Lottery. I have not won anything yet, however. I have been playing for a number of years now. You don’t get the opportunity to win millions: winnings are in the thousands of pounds. I do want to have money – and do work – but extra income would be very helpful.

With any luck!

[Author]

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